Siemens Nabs Deal With Postal Service

Updated June 20, 2002 12:51 p.m. ET

Siemens AG said Thursday its Siemens Dematic unit received a $240-million order from the U.S. Postal Service to create and install a new system to automate the letter-forwarding process. The German electronics powerhouse said the so-called Postal Automated Redirection System will identify and intercept "undeliverable-as-addressed" letters earlier in the sorting process and automatically redirect them to the correct addresses, reducing handling time. Siemens said the system will help the postal service minimize mail-forwarding delays, "substantially" reduce costs and increase productivity. The...